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Speak Out Tuesday Against Predatory Lending

Lenders in Alabama currently offer payday loans and automobile title loans at triple-digit interest rates (up to 456 annual percentage rate), far above the 36% annual interest rate cap that Congress set for military personnel and their families. Misleading promises of a quick fix trap the most vulnerable Alabamians in financial quicksand and leave borrowers in a never-ending cycle of debt, often borrowing from other payday lenders to pay back an initial loan.

Join AARP and other members of the Alliance for Responsible Lending in Alabama on Tuesday, at 1 p.m. at the Alabama State Capitol building auditorium before the 1:45 p.m. press conference, to ask your state senators to predatory lending practices.

Learn more by clicking the link below.


(Photo courtesy of Flickr  Some rights reserved by taberandrew)

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